Meridian Bank has received preferred lender status from the U.S. Small Business Administration (SBA).

The SBA’s Preferred Lender Program (PLP) was created to give its most-experienced, high-volume bank lending partners the ability to streamline procedures to provide faster and more efficient financial assistance to small businesses.

To qualify for preferred lender status, banks must establish a strong lending record with the SBA and demonstrate exceptional proficiency in approving, processing, and servicing SBA guaranteed loans.

“Achieving preferred lender status is a testament to our team’s knowledge and expertise and a confirmation of Meridian Bank’s commitment to being a best-in-class SBA lender in our market,” said Rocco Perate, SVP, Small Business Administration Lending at Meridian Bank.

Considered one of the deans of the local SBA lending community, Perate and his team have originated more than $16 million in SBA loans to date, putting Meridian on track to become one of the highest volume lenders in the region.

“In addition to years of experience and a comprehensive knowledge of the SBA lending program, Rocco and his team have an enthusiastic and innovative approach to their craft,” said Chris Annas, Chairman and CEO of Meridian Bank. “With the full support and resources of Meridian’s robust commercial lending group, our SBA group is well-equipped to continue on this growth trajectory.”

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